What is the global market size of Bio Plasticizers Market?

Bio Plasticizers Market size was valued at USD 1.97 billion in 2021 and is poised to grow from USD 2.07 billion in 2022 to USD 2.98 billion by 2030, at a CAGR of 5.30% during the forecast period (2023-2030).

What is the key market trend for Global Bio Plasticizers Market?

Traditional phthalate-based plasticizers have been associated with several health hazards, which has led to the banning or restriction of their use in several countries. Bio plasticizers are considered safer and healthier alternatives to phthalate-based plasticizers, and their adoption is increasing rapidly.

Bio Plasticizers Market Size, Share, Growth Analysis, By Application(Packaging Materials, Consumer Goods, Automotive & Transport, Building & Construction), By Type(Epoxidized Soybean Oil, Castor Oil, Citrates and Others), By Region - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global Bio Plasticizers Market?

Due to the volatility of these material prices on the global market, it is difficult for most manufacturers to earn significant profit margins because they are vulnerable to commodity and energy prices as well as the costs of critical raw materials. Businesses frequently have backup plans in place, including portfolio consolidation, organizational reorganization, momentary production halts, and other business measures, in case there are indications of a wider turndown and inventory building. 'DuPont de Nemours, Inc. (USA)', 'BASF SE (Germany)', 'Eastman Chemical Company (USA)', 'Arkema S.A. (France)', 'Evonik Industries AG (Germany)', 'Lanxess AG (Germany)', 'Dow Inc. (USA)', 'PolyOne Corporation (USA)', 'Bioamber Inc. (Canada)', 'Emery Oleochemicals LLC (Malaysia)', 'Danisco A/S (Denmark)', 'Vertellus Holdings LLC (USA)', 'Perstorp Holding AB (Sweden)', 'Myriant Corporation (USA)', 'Corbion NV (Netherlands)', 'Jungbunzlauer Suisse AG (Switzerland)', 'Polynt Composites Inc. (Italy)', 'Shandong Yuanli Science and Technology Co., Ltd. (China)', 'KLJ Group (India)', 'Solvay SA (Belgium)', 'Mitsubishi Chemical Corporation (Japan)', 'Meredian Holdings Group Inc. (USA)'

Report ID: SQMIG15E2189 | Region: Global | Published Date: March, 2024
Pages: 184 | Tables: 65 | Figures: 77

Bio Plasticizers Market Dynamics

Bio Plasticizers Market Drivers

Growing demand for Eco-Friendly Plasticizers will Open New Revenue Generating Opportunities

There is a growing demand for eco-friendly and sustainable plasticizers due to increasing environmental concerns and regulations. Bio plasticizers are derived from renewable sources, such as plant oils and vegetable fats, and are considered to be more sustainable than traditional petroleum-based plasticizers.

PVC (Polyvinyl Chloride) is widely used in several industries, including construction, automotive, and packaging. Bio plasticizers, such as Epoxidized Soybean Oil (ESBO) and Citrates, are extensively used in PVC applications due to their excellent plasticizing properties, which has led to increased demand for bio plasticizers.

Bio Plasticizers Market Restraints

Competition from Traditional Plasticizers might Hinder Market Growth

Although the global bio plasticizers market is growing, there are several factors that can act as restraints to the market's growth. Traditional petroleum-based plasticizers are still widely used and are often less expensive than bio plasticizers. This can limit the demand for bio plasticizers, especially in cost-sensitive industries.

Bio Plasticizers Market Report Snapshots

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Bio Plasticizers Market size was valued at USD 2.07 billion in 2022 and is poised to grow from USD 2.18 billion in 2023 to USD 3.29 billion by 2031, at a CAGR of 5.30% during the forecast period (2024- 2031).

Due to the volatility of these material prices on the market, it is difficult for most manufacturers to earn significant profit margins because they are vulnerable to commodity and energy prices as well as the costs of critical raw materials. Businesses frequently have backup plans in place, including portfolio consolidation, organizational reorganization, momentary production halts, and other business measures, in case there are indications of a wider turndown and inventory building. 'DuPont de Nemours, Inc. (USA)', 'BASF SE (Germany)', 'Eastman Chemical Company (USA)', 'Arkema S.A. (France)', 'Evonik Industries AG (Germany)', 'Lanxess AG (Germany)', 'Dow Inc. (USA)', 'PolyOne Corporation (USA)', 'Bioamber Inc. (Canada)', 'Emery Oleochemicals LLC (Malaysia)', 'Danisco A/S (Denmark)', 'Vertellus Holdings LLC (USA)', 'Perstorp Holding AB (Sweden)', 'Myriant Corporation (USA)', 'Corbion NV (Netherlands)', 'Jungbunzlauer Suisse AG (Switzerland)', 'Polynt Composites Inc. (Italy)', 'Shandong Yuanli Science and Technology Co., Ltd. (China)', 'KLJ Group (India)', 'Solvay SA (Belgium)', 'Mitsubishi Chemical Corporation (Japan)', 'Meredian Holdings Group Inc. (USA)'

There is a growing demand for eco-friendly and sustainable plasticizers due to increasing environmental concerns and regulations. Bio plasticizers are derived from renewable sources, such as plant oils and vegetable fats, and are considered to be more sustainable than traditional petroleum-based plasticizers.

Asia-Pacific is expected to be the dominant segment in the bio plasticizers market in 2021, driven by the growing demand for sustainable products and the presence of a large number of manufacturers in the region. It is projected that a high level of urbanization and rapid industrialization will accelerate market growth nationwide. Additionally, the demand for products in the region is boosted by the increased use of bio-based packaging material products in developing nations.

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Bio Plasticizers Market Size, Share, Growth Analysis, By Application(Packaging Materials, Consumer Goods, Automotive & Transport, Building & Construction), By Type(Epoxidized Soybean Oil, Castor Oil, Citrates and Others), By Region - Industry Forecast 2024-2031

Bio Plasticizers Market Dynamics

Bio Plasticizers Market Report Snapshots

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What is the market size of Bio Plasticizers Market?

Who are the key vendors in the Bio Plasticizers Market?

What is the key driver of Bio Plasticizers Market?

What is the key market trend for Bio Plasticizers Market?

Which region accounted for the largest share in Bio Plasticizers Market?

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